Travere Therapeutics Sees Unusually High Options Volume (NASDAQ:TVTX)

Travere Therapeutics, Inc. (NASDAQ:TVTX) was the recipient of some unusual options trading on Tuesday. Stock investors bought 16,137 put options on the company. This is an increase of approximately 694% compared to the typical daily volume of 2,032 put options.

Insider Activity

In other news, CAO Sandra Calvin sold 67,115 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $36.00, for a total transaction of $2,416,140.00. Following the sale, the chief accounting officer directly owned 48,545 shares in the company, valued at $1,747,620. This represents a 58.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric M. Dube sold 92,872 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $30.38, for a total transaction of $2,821,451.36. Following the completion of the sale, the chief executive officer owned 419,173 shares in the company, valued at $12,734,475.74. This represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 323,226 shares of company stock valued at $11,290,656. 4.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Fund Management S.A. bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth approximately $1,501,000. Squarepoint Ops LLC grew its position in Travere Therapeutics by 98.7% in the 2nd quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock valued at $7,095,000 after acquiring an additional 238,070 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Travere Therapeutics by 343.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock worth $1,006,000 after purchasing an additional 52,675 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in shares of Travere Therapeutics during the second quarter worth $2,486,000. Finally, Franklin Resources Inc. lifted its position in shares of Travere Therapeutics by 44.8% during the second quarter. Franklin Resources Inc. now owns 76,511 shares of the company’s stock worth $1,132,000 after purchasing an additional 23,675 shares during the last quarter.

Analysts Set New Price Targets

TVTX has been the topic of a number of analyst reports. Citigroup lifted their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Piper Sandler lifted their price target on shares of Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. TD Cowen boosted their price objective on shares of Travere Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Zacks Research lowered shares of Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, November 28th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.71.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded down $10.97 during mid-day trading on Tuesday, reaching $23.13. The company’s stock had a trading volume of 7,774,364 shares, compared to its average volume of 3,203,707. The firm’s fifty day moving average price is $35.71 and its two-hundred day moving average price is $26.17. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23. The stock has a market cap of $2.07 billion, a P/E ratio of -21.91, a PEG ratio of 1.22 and a beta of 0.85. Travere Therapeutics has a 12-month low of $12.91 and a 12-month high of $42.13.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The firm had revenue of $164.86 million for the quarter, compared to analysts’ expectations of $106.09 million. During the same quarter in the prior year, the business earned ($0.70) EPS. The business’s quarterly revenue was up 162.1% on a year-over-year basis. On average, equities analysts forecast that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.